bike 2 work

Calculator

What Can I Buy that qualifies?

  • Bicycle
  • Cycle helmets which conform to European Standard EN 1078
  • Bells and bulb horns
  • Lights, including dynamo packs
  • Mirrors and mudguards
  • Cycle clips and dress guards
  • Panniers, luggage carriers and straps to allow luggage to be safely carried
  • Locks and chains to ensure the cycle can be safely secured
  • Pumps, puncture repair kits, cycle tool kits and tyre sealant to allow for minor repairs
  • Reflective clothing along with front reflectors and spoke reflectors

salary before tax

Cost of Bike and Accessories

How Much Can I Save?

Your Savings:

Reduction in Tax:

Reduction in PRSI:

Reduction in USC:

Total Savings:

Cost of Bike:

Employer Savings:

Reduction in PRSI:

This example is based on a single person who has no additional tax credits. The savings you will make may vary depending on your tax credits, reliefs, and exemptions; or if you are a public servant. Please check your payslip to see the marginal tax rate at which you are paying PAYE, PRSI and USC.


Employees
Employers
FAQ
Examples

Some FAQ about The Cycle To Work Scheme

  • What is the purpose of the scheme?
  • When did the scheme come into effect?
  • What are the benefits of the scheme for employees/directors?
  • What are the benefits of the scheme for employers?
  • What is a qualifying journey?
  • Can home-based employees avail of the scheme?
  • Can I avail of both the Travel Pass/TaxSaver Commuter Ticket and Cycle to Work schemes?
  • Are employees availing of the scheme liable to benefit-in-kind taxation?
  • What items may be purchased under the scheme?
  • Can employees choose the bicycle/safety equipment themselves?
  • How does the scheme work?
  • Is the employer subject to audit or inspection in relation to the program?
  • If the employer has failed to implement the scheme properly what are the consequences?
  • Under a salary sacrifice arrangement, how long do I have to repay the cost?
  • What happens if I leave my employment or retire before the salary sacrifice is completed?
  • Do all employers have to participate in the scheme?
  • How often can an employee avail of the scheme?
  • What if the bicycle is stolen?
  • Who purchases the bicycle/cycle equipment?
  • What about delivery charges?
  • Are there limits on where bicycle/safety equipment may be bought?
  • Are mopeds/scooters covered by the scheme?
  • Does the scheme apply to second-hand bicycles and/or safety equipment?
  • Does the scheme apply to bicycle parts rather than a whole bicycle?
  • Will the exemption apply where an employer purchases safety equipment only?
  • Is there a minimum threshold on the amount of days a bicycle must be used?
  • Is anything other than bicycles or safety equipment eligible under the scheme?
  • Are directors eligible for the scheme?
  • What records do employers need to keep for Revenue?
  • Can an employee avail of the exemption where an employer spends in excess of €1000?
  • What about VAT when expenditure exceeds €1000?
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